ARLINGTON, Va.—Some credit unions may want to add an application fee for small business loans if a proposed regulation from the CFPB is an onerous as some think it will be when it is finalized.
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ALEXANDRIA, Va.–During a briefing hosted by NCUA related to its 2021 and 2022 budgets, the agency heard questions raised over why its budget continues to increase at a time when the number of CUs is decreasing, concerns state charters are bearing an “inordinate” level of costs related to supervision, and pushback against plans for exams over compliance with consumer protection laws.
BROOKFIELD, Wis.—Is the concept of a primary financial institution fading away? Or is it just that a service delivery evolution is underway that requires credit unions to respond in a new way?
ARVADA, Colo.–The approval by voters in five states in recent elections in favor of legalizing recreational marijuana could be a “tipping point” for financial services in servicing the cannabis industry, according to one expert, who also cautions it could tip certain-size CUs in the wrong direction.
IRVINE, Calif.—Look for mortgage rates to rise next year, possibly enough to dramatically slow the heavy refi business seen during 2020, one analyst is predicting.
BIRMINGHAM, Ala.—It’s Thanksgiving 2020, and for many within the credit union community, vendors and CU leaders alike, the biggest thanks many are expressing is that a tough year is just about over. So CUToday.info asked: What are you thankful for, and what from 2020 would you most like to give the bird?
SANTA ROSA, Calif.—North Bay Credit Union is adding staff, not thinking about cutting positions, as the pandemic wears on.
LATHRUP VILLAGE, Mich.—One credit union that never closed it lobbies during the health crisis says its reputation—and business—have never been stronger as a result.
ANN ARBOR, Mich.–Credit unions have not only for the second year in a row fallen behind banks when it comes to consumer satisfaction, they also now sit at a “historic low” in one respected national survey.
KENT, Wash.—Just as was the case during the Great Recession, the pace of mergers within credit unions has also slowed during the current economic downturn, according to one analyst, who is projecting the pace will increase once the dust settles.